Trexquant Investment LP Sells 69,296 Shares of Box, Inc. (NYSE:BOX)

Trexquant Investment LP lessened its stake in shares of Box, Inc. (NYSE:BOX) by 40.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,313 shares of the software maker’s stock after selling 69,296 shares during the quarter. Trexquant Investment LP owned 0.07% of BOX worth $3,201,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Beacon Harbor Wealth Advisors Inc. bought a new position in shares of BOX during the fourth quarter valued at $5,997,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of BOX during the 4th quarter worth about $981,000. Sei Investments Co. lifted its holdings in BOX by 8.4% during the 4th quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker’s stock valued at $103,857,000 after purchasing an additional 255,623 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in BOX by 715.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock valued at $69,000 after buying an additional 1,897 shares in the last quarter. Finally, Congress Asset Management Co. grew its stake in BOX by 17.5% during the fourth quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker’s stock worth $52,445,000 after buying an additional 246,993 shares during the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

BOX Stock Performance

BOX opened at $29.82 on Monday. The company has a fifty day moving average price of $32.63 and a two-hundred day moving average price of $32.57. The firm has a market capitalization of $4.29 billion, a PE ratio of 37.28, a P/E/G ratio of 4.42 and a beta of 0.96. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74.

BOX declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 4th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the software maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at BOX

In related news, CEO Aaron Levie sold 10,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.08, for a total value of $320,800.00. Following the sale, the chief executive officer now directly owns 2,979,780 shares in the company, valued at $95,591,342.40. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Olivia Nottebohm sold 2,105 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $30.76, for a total transaction of $64,749.80. Following the transaction, the chief operating officer now owns 427,113 shares of the company’s stock, valued at approximately $13,137,995.88. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,705 shares of company stock worth $2,375,998 in the last three months. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BOX. Bank of America began coverage on BOX in a report on Thursday, December 12th. They issued a “buy” rating and a $40.00 target price on the stock. Royal Bank of Canada restated an “underperform” rating and set a $21.00 target price on shares of BOX in a report on Wednesday, March 19th. StockNews.com lowered BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Raymond James reiterated an “outperform” rating and set a $38.00 price target (down previously from $40.00) on shares of BOX in a research report on Wednesday, March 5th. Finally, DA Davidson restated a “buy” rating and issued a $45.00 price objective on shares of BOX in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.11.

BOX Profile

Box, Inc engages in the provision of an enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, Box Governance, Box Zones, Box Relay, Box Shuttle, and Box KeySafe.